Man City lose £100m... but insist they're still on course to meet financial fair play rules

Manchester City have revealed annual losses of almost £100million -
but insist they are still on course to fall in line with the new
financial fair play rules.

Although City's losses have been halved, they still posted a loss of £97.9m in the annual report for the 2011-12 season. City's overall wage bill rose from £151.6m to £178.1m.

Value for money? Manchester City have announced an interesting set of financial figures for the year

The new financial fair play rules - that are introduced at the start of the next Barclays Premier League season - which require clubs to meet a series of stipulations.

City are confident as £15m of the losses comes from infrastructure and youth development costs, while approximately £80m comes from contracts that pre-date 2010, from which City expect to get some kind of relief.

A statement read: 'Whilst the 2011-12 financial results represent a
further step towards achieving the club’s objective of long-term
sustainability both on and off the field, the application of UEFA
allowable reliefs for certain categories of expenditure and investment
in 2011-12, position the club well for compliance with UEFA’s financial
fair play regulations which come into effect in season 2013-14.'

City's annual figures also revealed that they have recorded whopping
revenue of £231.1m - the first time they have smashed through the £200m
mark.

While the results show marginal increases in gate receipts and TV revenue, it is in the commercial sector where City are making huge gains.

Revenue went up from £64.7m to £121.1m, underlining City's increased growing global exposure, which is being shown in all areas, from merchandise to club tours.

The statement continued: 'This year’s report demonstrates the
tangible and positive impact of four years of strategic investment in
all operations since the acquisition of the Club by Sheikh Mansour bin
Zayed in September 2008.

Bright: City are able to put plenty of cash into their future, and announced plans for a new academy site

MANCHESTE CITY REPORT

'Chairman Khaldoon Al Mubarak recognises the historic on field
achievements of 2011-12 and the impact on the club at home and
overseas. He also emphasises, following the securing of planning
permission, the importance of the City Football Academy (CFA) project to
the future of the Club and the community in which it resides, calling
it 'the most significant current initiative to secure the long-term
sustainability of the Club’s football operations'.

Chief executive officer Ferran Soriano, who arrived at the club
earlier this year after his time with Barcelona, said: 'What I have
found is a club on the verge of a historic transformation, reinforced by
a genuine commitment to doing things well. It is a club with a rich
history and the potential for an even brighter future.'